Thursday, September 10, 2009

Austin Firm Behind Plan To Revive Ford Factory

Austin-based Xtreme Power, a manufacturer of energy storage systems, is part of a deal to revive an idled Ford Motor Company plant in Michigan, according to Ford officials Thursday. According to Ford, Xtreme Power and a California firm, Clairvoyant Energy, are investing $725M to redevelop its Ford Wixom Vehicle Assembly Plant, which covers 320 acres and 4.7 million square feet of plant space. The new "renewable energy plant" is expected to create more than 4,000 jobs at the site and surrounding area. Xtreme power is venture backed by SAIL Venture Partners.